USA Cycling hires New Balance boss Rob DeMartini as CEO

COLORADO SPRINGS, Colo. -- USA Cycling has hired Rob DeMartini as its president and CEO, giving the longtime New Balance boss the job of not only growing the sport at the grassroots level but preparing the nation's elite athletes for success at the 2020 Tokyo Olympics.

The governing body announced DeMartini's hiring in a statement Monday. He takes over for Derek Bouchard-Hall, who undertook a massive restructuring of USA Cycling before leaving the organization at year's end to become CEO of Swiss cycling apparel company ASSOS.

DeMartini, an avid cyclist, was hired primarily for his business acumen. He spent 20 years with Proctor & Gamble, then spent time with Tyson Foods before taking over New Balance.

He took the shoe and apparel company from annual revenues of $1.5 billion in 2007 to $4.4 billion last year, helping New Balance to regain its position as a leader in the running industry.